Berkshire announces stock buyback

Berkshire Hathaway Inc. said today that it had repurchased $1.2 billion of its own stock and raised the price at which it is willing to buy back shares, Reuters reported.

The conglomerate, which owns MidAmerican Energy Co. and Iowa Realty Co. Inc., said its board had authorized stock repurchases at up to 120 percent of book value, up from a previous level of 110 percent. Read more.